Economic diplomacy is a multi-hued activity, easy to describe in broad brushstrokes, but harder to pin down with precision. From the perspective of members of diplomatic and commercial or trade services, and those that are the „customers” or users of these services, economic diplomacy is a plural set of practices, all aimed at advancing the country’s external economic interests. It is different from commercial diplomacy. This article is devoted to the analysis of modern economic diplomacy of China. Notes that one of the most important components of this diplomatic strategy is economic diplomacy since the economic power of China and growing economic dependence on the PRC of not only emerging but also some developed countries facilitates wide use by China of economic leverages for resolution of external political objectives.